Member Info for MatrixObserver

Good Morning Fellow ENQers

Speedway left Sullom Voe around 4:30am with draught of 11.1m

This equates to 590k barrels of 14 API Kraken crude, but think is probably 500k with some ballast, is bigger than usual tankers...

Is on to the City of Brotherly Love, Philadelphia !!!

Not much ENQ SP love this morn...

Will change...

SO no-one loses their bearings on pre-rights announcement valuation (can be tricky when smoke and mirrors are abundant)... TERP (post 2/10) is 33.32p and pre 2/10 is 38.6p

Can see some thinking 21p, lol, in your dreams !!!!

MO

Hi TW...

Sorry, haven't encountered that one yet...

Is just observations from today's IEA Monthly Oil Report and snippets from yesterday's OPEC report.

https://www.iea.org/oilmarketreport/omrpublic/

https://www.opec.org/opec_web/en/publications/338.htm

Good luck

MO

LOL TWalbyoff

MO was calculating 1000-1500 barrels per day for fuel, so if is 1860 per week, is much more efficient than MO was modelling...

Also, re glut... Is now below 5 year inventory average.

"OECD commercial oil inventories stood at 2.830 billion barrels as of July, 43 million barrels below the five-year average but 194 million barrels lower than the July 2018 level."

Have good-un

MO

Hey L3

I won't speculate on Jefferies note or possible ulterior motives, but from tone is obviously unhappy.

Think could possibly be due to ENQ not finalising AK 20% sale, which Jefferies were running, not sure if had a retainer or just commission etc..

ENQ cannot mess around with buyers playing games and delay tactics when required to meet Oct payment, think they took the prudent option, if Poo gods are strong for next 2/3 of years think should have paid off the 15% OZ loan by then.

Is eyes on Kraken and Alma for indicators.

Can only see old data on OGA.

Best wishes

MO

Good morning riskingit and fellow ENQers...

Average API gravity for diesel is 36...

"The API gravity at 60°F (15.6°C) for No. 2 diesel fuel is between 30 and 42. The specific gravity, at 60/60°F, and the density, at 15.6°C, are between 0.88 and 0.82."

So 1 metric tonne of diesel is 7.44 barrels x say 250 = 1,860 barrels per week

One barrel is about 159 litres or 35 imperial gallons (is 42 US gallons), MO will work in metric.

So is 295k litres per week, or 42k'ish per day.

AK is producing approx 5MMscfd which is approx 25% of capacity required to run power etc, has capability for 15MMscfd import.

Think 42k litres would power a few cars for a day...

Cheers

MO

Lol Therapist...

Looks like Christmas early for ENQers... Hope can keep it going...

Also looks like HK switched off AIS half-hour too early, as looks stranded, but in real world is snuggly alongside Speedway.

For those visiting room 303, can see anomalies MO was on about, HK and AK both have this issue, their matrix position of AIS transmitter is incorrectly in the middle, when both are approx 200ft towards the stern...

MO has tried to get MT to fix, but alas, with no joy...

MO's FY 2018 price target of 47.2p

Have good-un

MO

Is last post on SVT STS...

Can see HK being turned 180 prior to being moved alongside Speedway...

https://www.marinetraffic.com/en/ais/home/centerx:-1.308/centery:60.465/zoom:15

For best view switch to satellite background (via map icon on right of map)

Good luck all

MO

HK entering last couple of miles, accompanied by four tugs...

https://www.marinetraffic.com/en/ais/home/centerx:-1.298/centery:60.477/zoom:14

MO

15:30 USD Crude Oil Inventories -5.296M -1.300M -4.302M

Full info

https://uk.investing.com/economic-calendar

MO

If ever get there will get ya a wee dram or of course a glass of rose'

Ahhhh... 0^0

MO can see J4 for Sullom Voe / Speedway

SPEEDWAY 81,413 GAC GR J4 12 Sep 18 19:00 STS

http://www.sullomvoe.org.uk/CurrentTraffic.aspx

and "the ability to conduct StS transfer operations from a delivering vessel/vessels to a receiving vessel berthed alongside jetty 4, managed by experienced service providers."

https://www.shetland.gov.uk/ports/transhipment/default.asp

is much clearer now, many thanks, now understand which is jetty 1,2,3 and 4 :-) Was it fun watching Speedway in person, or does the novelty wear off ?... Was fun via MT for MO, someday MO may come and visit to experience in real-world...

Best wishes

MO

Thanks irvinerd

Was unsure which way the numbering went...

Had a look on satellite view and when taken appears to have pipes where Speedway is berthed...

Looking at the satellite it appears the jetty at other-end that appears to have no pipes... Is why thought may move...

Is a new one to MO :-)

Cheers

A bit more meat on the bones...

"The sale of the stake would have pumped welcome cash into the coffers of the company which has to pay back just under $200 million in debt in October.

The sale process, initially expected to raise up to $400 million, was run by investment bank Jefferies.

London-based EnQuest received an offer for a stake in Kraken from Lotos, a Polish state-backed oil and gas company, several months ago, according to the sources.

The talks reached advanced stages, but dragged on and could not be concluded in time, according to one source.

Lotos declined to comment.

A second offer from a private company was rejected by EnQuest after the bidder revised its terms at the last minute, the sources said.

After the two failed approaches, EnQuest decided to borrow $175 million against 15 percent of Kraken's cashflow from Oz (Och-Ziff) Management to be paid back within five years."

Full article..

http://www.lse.co.uk/ShareNews.asp?shareprice=ENQ&code=0yab7uog&headline=EnQuest_aborted_sales_talks_for_Kraken_stake_due_to_debt_deadline_sources

MO

Happy with 15% temp-farmout, seems like a good middle-ground, without selling the family jewels...

Tugs coming out to meet HK

https://www.marinetraffic.com/en/ais/home/centerx:-1.2/centery:60.6/zoom:11

MO

Good day all...

MO was plastered last night, was drunken stupor, at least had chance to see Speedway dock...

Chilts, you are correct about AIS coverage not being very good around north Shetland, but Heather Knutsen is now back in range approaching island...

https://www.marinetraffic.com/en/ais/home/centerx:-0.9/centery:60.7/zoom:9

Still no draught or destination update, but will guess ~500k barrels offloaded, based on duration of 26 hours, transfer rate of ~20k per hour...

Wondering weather Speedway is also getting some SVT crude, will see

Have good-un all

MO

Hey Chilts...

Can see how big Speedway is... Has empty draught of 9.8m = 475k barrels of sea water ballast (7 API)...

Is different, for a change

MO

Is minor point...

But looks like Speedway is moored to jetty SVT1 (is guesss, could be SVT4, is first observation, still has pipes), so may get some SVT crude before moving to jetty 4, for HK... Could be gross 1m barrels total load... Time will tell

Try with satellite as background, fits perfectly...

https://www.marinetraffic.com/en/ais/home/centerx:-1.303/centery:60.462/zoom:16

Disclaimer... Is MO blah, blah + rose'

See tomorrow...

MO

DD... 4U

Can purchase on 1st Oct and still get rights...

If wrong will beat self with rose bush

MO

Hi Whiteace

JP Morgan Cazenove is sponsor, with Bank of America Merryll Lynch (am rose'd) both book runners.

MO calcs approx £62m of exposure for underwriters, but can take off irrevocable rights by AB and friends.

Good luck

MO

Hi Jan

Have both been ENQers for many years...

Is best feeling for ENQ ever...is for MO

MO

LOL Jan...

MO done deal at $78, so is good...

MO